Page 152 - Stimulus Program News Today

Americans. >> so are we becoming a food stamp nation? stewart barney is the only one that knows. host of "barney and company" starting at 9:20. stewart, those are the stats. whats your reaction? >> go back to the great stimulus plan. president obama just got into the white house. first thing he does, the stimulus program. in that program, he changed the food stamp rules. he got rid of the work requirement. so you could front up, ask for food stamps and get them without any kind of work requireme...

Yesterday, and tallying up the $100 billion plus that went from the obama administration and not much to show for it. this man is the focus, a silicon valley entrepreneur, seen with then senator obama, at a campaign event. his company received hundreds of millions in taxpayer-backed loans and assistance. now, the report did not mention that he also contributed and bundled millions of dollars in donations for the president and democrats. and that is a key fact about some of these companies, mark ...

Alison kosik joining us from the new york stock exchange, right now. she has a vote to be confirmed later this afternoon, around 5:00 p.m., 5:30 p.m. eastern. i assume she will be confirmed as the first woman to head the federal reserve. alis alison, as you know, this is probably one of the top two or three most important jobs in washington, d.c. shell have an enormous impact on money, on markets. whats the expectation where you are right now? >> you know, you look at her job, and its true. its ...

The white house this morning. first lady michelle obama remaining on the island a little longer as a birthday present from her husband. congress will be returning to work tomorrow. lawmakers gearing up for battles over obama care, raising the fell minimum wage and extending unemployment benefits. jamie. >> well, this may be a good time after the first of the year to re-examine your retirement savings program and we hope you have one because the federal reserve is announcing it will begin taperin...

>> good to see you. why would she likely be confirmed? >> the president gets their way on this sort of appointment and she is well republicspected and if they had not changed the senate rules to require 51 votes she would have cleared the 51 vote requirement she is going to be the next fed chairperson. clearly she is someone who has been the left side of the debates. there are two big choices one is monetary policy and one is regulatory policy. the fed has had this stimulus

Into the economy. why do you think that is falling on some deaf ears? >> i think personal agendas are ahead of the best interests of the american public right now. and the real issue is, this money is an economic stimulus program. this money immediately goes back into the economy, small businesses are going to be hurt. we hear that this will cost an additional 240,000 jobs. and this is going to hurt the american economy which really doesnt need this kind of blow right now. its almost hard to bel...

It seems like weve thrown everything but the kitcheni sin. >> if you actually take a look at the numbers. you know, the thing about the american economy is you always have to keep in mind how big the thing is. you say well we had an $800 billion stimulus program. thats huge. but that was spread over three years and over that period the u.s. economy produced $45 trillion worth of stuff. when you do the ratio were talking about a couple of percent of gdp. its not actually a very big thing when you...

And skills have led to the stagnation of wages for the middle class. some argue that the real link between rise of the rich and fall of the middle class is political. the rich have captured the political system and milked it to their advantage. and its true that because of the vast role of money in politics, the well off and the well organized can often get special tax breaks and regulatory relief to help them. more broadly, look at whats happened in the last ten years in america. medicare was e...

Scaling back the stimulus program. dennis rodman back in north korea today, and he said his trip is about pleasure, not politics. he said hes there to help prepare north korean basketball players for an upcoming exhibition game. his visit comes days after the north korean leaders uncle was executed. >> if he wants to talk about it, great. if it doesnt hatton, i dont want him to think im over here trying to be an ambassador and trying to use him, as his friend, and im starting to talk about pol...

Which is printing money to buy bonds is not the same as tightening and tightening meaning higher interest rates and when ben bernanke tried to do the same thing in june, the opposite happened. bond yields soared. the stock market tanked, and for the last few months theyve been laying the groundwork to try to convince people that yes, they want to slow the bond-buying program, but they do not want to tighten. interest rates will stay low and thats what they successfully did yesterday. >> very goo...